PT Selamat Sempurna Tbk (SMSM) made a disappointing performance throughout 2020. The company engaged in the automotive component sector posted net sales of Rp3.23 trillion in 2020. This gain shrank 17.83% YoY from the realization in 2019, which reached Rp 3.93 trillion.

Launching the company's financial report released on Monday (3/5), the current year's profit attributable to the owner of the parent entity, aka Selamat Sempurna's net profit, also decreased by 15.54% YoY throughout 2020.

Last year, SMSM's net profit was Rp. 487.74 billion. Meanwhile, in the same period in 2019, the company's net profit reached Rp 577.52 billion.

Even though it had incised declining sales and profit performance, SMSM could still reduce expenses from several expense items. For example, the cost of goods sold decreased by 19.96% YoY to Rp2.19 trillion throughout 2020. Previously, SMSM's cost of sales reached Rp2.74 trillion in the same period in 201